Kirkwood Home Sales Report
Nest Atlanta Real Estate Market Update for 1Q 2016
We love being able to share the progress of the Kirkwood real estate market! After reviewing the Kirkwood home sales, there are so many jaw-dropping stats that we want to share with you for the first quarter of 2016 (January - March). Let's get started.....
- KIRKWOOD HOME SALES: Over the last five years, an average of 32 Kirkwood homes sold in the first quarter each year. In 1Q 2016, a total of 40 Kirkwood homes sold. There weren't any foreclosure sales, one short sale and 15% of the homes were new construction. There were also quite a few bungalows and ranch style homes that were recently renovated.
- HOME PRICES: We saw another BIG SPIKE in the average single family home sales price -- $385,000! That's $78,000 HIGHER than the same time last year (1Q 2015) and $100K higher than 2007 when the Atlanta real estate market was very strong. As a Kirkwood homeowner, I'm definitely giving myself a pat on the back (and you should too!)
* Kirkwood home sales ranged in price from $112,000 all the way up to $647,500
* Home values are up 24% from last year (the typical annual increase is 2.5% to 3.5%).
* To put this in perspective, if your home was worth $300,000 in 2014, it should sell for about $372,000 today!
Get your custom home valuation report - we'd be happy to give you a detailed estimate of your home's current value.
- HOW QUICKLY ARE HOMES SELLING? Kirkwood homes sold in 44 days on average, but the median # of days was only 14 -- we think that is a much more accurate reflection, as more than half of the homes sold in 14 days or less.
This quarter we did notice a BIG discrepancy in the time to sell a home in Kirkwood -- a majority of the homes (55%) either sold in less than 2 weeks or took 100+ days (23%) to finally sell. For those that didn't sell in the first 2 weeks, usually the home wasn't priced at the current market value and the sellers had to reduce the price 1 to 4 times during the listing process.
- ARE BUYERS STILL PAYING TOP DOLLAR? Absolutely! With the low inventory, buyers are willing to do what it takes to win the bidding war. One out of two Kirkwood homes sold at 100% of the asking price... and almost all of those listings sold in the first 10 days of listing the home.
* TIP: If you are thinking of selling your Kirkwood home in 2016, don't "pad" the listing price. If you list your home at the fair market value, potential buyers will typically offer very close to your asking price... and almost 40% will offer at or OVER your list price. Also make sure your real estate agent has a "Coming Soon" marketing campaign.
A-mazing Kirkwood Home Sales Statistics
Homes Sold in Kirkwood1Q (Jan-March) 2016 :: See all the latest Kirkwood Homes for Sale
|ADDRESS||BEDS||BATHS||LIST PRICE||SOLD PRICE||BUILT||SQ FT||DOM|
|1896||Hosea L Williams||4||3.5||$550,000||$545,000||2006||2,220||4|
|357||Murray Hill Ave||3||2.5||$524,900||$510,000||2013||2,096||128|
|354||Murray Hill Ave||5||3||$549,000||$509,000||2002||3,195||117|
|2285||Hosea L Williams||3||2.5||$525,000||$495,000||2006||3,160||149|
|227||Murray Hill Ave||3||2||$349,900||$357,500||1968||1,130||6|
Have questions about the Kirkwood Atlanta real estate market and or your home's current value?
Call your Kirkwood neighbor, Kerry Lucasse anytime at 404-432-1844.